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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 5389 Rulemaking; non-conflicting law us united_states_code code_section 12 BANKS AND BANKING 53 WALL STREET REFORM AND CONSUMER PROTECTION 5389 12 U.S.C. § 5389 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s5389 data/legal/raw/us/code/title-12/usc12.xml 6d8dd429afe63ca99ce0f22402a45a63f1e41a3d95a199ef2f6282f25dea89b3 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 4747733897d69044f7b77a06a7a08e8267815f92e6dbdbad9238bfa482eae3f3 2026-07-04 official
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12 U.S.C. § 5389 - Rulemaking; non-conflicting law

Text

The Corporation shall, in consultation with the Council, prescribe such rules or regulations as the Corporation considers necessary or appropriate to implement this subchapter, including rules and regulations with respect to the rights, interests, and priorities of creditors, counterparties, security entitlement holders, or other persons with respect to any covered financial company or any assets or other property of or held by such covered financial company, and address the potential for conflicts of interest between or among individual receiverships established under this subchapter or under the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.]. To the extent possible, the Corporation shall seek to harmonize applicable rules and regulations promulgated under this section with the insolvency laws that would otherwise apply to a covered financial company.

(Pub. L. 111203, title II, § 209, July 21, 2010, 124 Stat. 1460.)

Notes

Editorial Notes

References in TextThis subchapter, referred to in text, was in the original “this title”, meaning title II of Pub. L. 111203, July 21, 2010, 124 Stat. 1442, which is classified principally to this subchapter. For complete classification of title II to the Code, see Tables. The Federal Deposit Insurance Act, referred to in text, is act Sept. 21, 1950, ch. 967, § 2, 64 Stat. 873, which is classified generally to chapter 16 (§ 1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of this title and Tables.

Statutory Notes and Related Subsidiaries

Effective DateSection effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111203, set out as a note under section 5301 of this title.